Several financial trade associations voiced opposition to regulatory proposals that would repeal certain powers and authorities of merchant banks.

The CFTC approved two final rules to enhance requirements for system safeguards testing by a derivatives clearing organization.

In a Report mandated by the Dodd Frank Act, three federal agencies discussed activities and investments permitted by banking entities, and made recommendations as to how associated risks could best be mitigated by those entities.

ISDA CEO Scott O'Malia urged regulators to provide "certainty in the timeline for all jurisdictions, alongside a realistic implementation window for deferred rollouts."

The CFTC approved, by a two-to-one vote, a comparability determination that will allow substituted compliance with Japan's margin requirements for uncleared swaps.